same old story ...

Wadda fvcken joke ... issue after issue of cheap shares to corporate buddies over the years, continuous share dilution, a 1 for 10 share consolidation, then (you guessed it) ... another share issue!!!

Shareholder Share Purchase Plan24-02 2008

The Directors of Union Capital Limited ("Union") are pleased toannounce that they propose to invite shareholders to subscribe for upto $2,000 worth of shares in Union under the terms of a ShareholderShare Purchase Plan ("the plan").

Details are:

1. The share registry record date to determine those shareholders toreceive this offer is at close of trading Friday 28th February 2003.

2. The issue price of the shares will be three [3] cents per share.

3. This offer can only be made under permissible legal jurisdictionsto shareholders with registered addresses in Australia and NewZealand.

4. Because Union has approximately 4,000 eligible shareholders tothis Plan, it is possible that acceptances in total may exceed thecompanies ability to issue new shares under ASX Listing Rule 7.1(issues exceeding 15% of capital) and accordingly a General Meetingof the Company is to be held as soon as practicable to ensure thatapplications can be accepted.

5. Union optionholders who wish to participate in the Plan mayexercise all or any of their holdings up to the closing date oftrading Friday 28th February 2003.

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